The Social Security and National Insurance Trust (SSNIT) has announced a 12% increase in monthly pension payments, in line with its annual inflation adjustment.
This increment follows consultations with the National Pensions Regulatory Authority (NPRA) and adheres to the guidelines outlined in Section 80 of the National Pensions Act, 2008 (Act 766).
All eligible pensioners who were on the SSNIT pension payroll as of December 31, 2024, will receive the 12% increase in their monthly pension payments starting this year.
The adjustment comprises two components: a fixed rate of 8% and a flat amount of GH¢72.58, representing the remaining 4%, to be redistributed among pensioners.
As a result, the lowest-wage pensioners will experience a significant boost, with their monthly pension payments increasing to GH¢396.58—representing a substantial 32.19% rise above the 2024 minimum pension payment.
Additionally, the highest-earning pensioners will see notable increases in their monthly payouts. Under PNDCL 247, the top-earning pensioner will now receive GH¢201,792.37 per month, while those under Act 766 will receive GH¢28,703.01.
This upward adjustment is part of SSNIT’s ongoing efforts to maintain the purchasing power of pensions.
It aims to help beneficiaries better cope with economic pressures and ensure that their benefits keep pace with inflation.
Source: www.ghanaweb.com
